Price Analysis 7/13: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO
Bitcoin price saw a brief pullback after high inflation on July 13, but the rebound seen in BTC and altcoins suggests that buyers buy the dip.
Price analysis
The consumer price index in the United States rose to 9.1% in June, beating expectations for an 8.8% year-on-year rise. Currently, fed funds futures are pointing to an 81 basis point rate hike for July, suggesting that some participants are pricing in a 100 basis point hike.
Several on-chain indicators point to a likely bottom in Bitcoin (BTC), but analysts at market intelligence firm Glassnode aren't convinced the bottom has been reached. In "The Week On-Chain" report on July 11, analysts said the market may need to drop further "to fully test investors' resolve and allow the market to establish a resilient bottom".
Daily performance of the cryptocurrency market. Source: Coin360While the short-term remains bearish, strategists are confident about its long-term outlook. CoinShares Chief Strategy Officer Meltem Demirors told CNBC that Bitcoin could extend its “downwa...
Bitcoin price saw a brief pullback after high inflation on July 13, but the rebound seen in BTC and altcoins suggests that buyers buy the dip.
Price analysis
The consumer price index in the United States rose to 9.1% in June, beating expectations for an 8.8% year-on-year rise. Currently, fed funds futures are pointing to an 81 basis point rate hike for July, suggesting that some participants are pricing in a 100 basis point hike.
Several on-chain indicators point to a likely bottom in Bitcoin (BTC), but analysts at market intelligence firm Glassnode aren't convinced the bottom has been reached. In "The Week On-Chain" report on July 11, analysts said the market may need to drop further "to fully test investors' resolve and allow the market to establish a resilient bottom".
Daily performance of the cryptocurrency market. Source: Coin360While the short-term remains bearish, strategists are confident about its long-term outlook. CoinShares Chief Strategy Officer Meltem Demirors told CNBC that Bitcoin could extend its “downwa...
What's Your Reaction?
